Qualified advisers answering your
Financial Questions
call 0800 092 1245

Will UK savers now be tempted to move their assets overseas for better rates?

As savings rates in the UK continue to fall and despite noises from the political arena nothing seems to be changing, there is a suggestion that more and more UK savers could look to the more risky overseas markets for better returns. The weekend press highlighted a £5000 savings account with an unnamed bank which was due to make the owner around five pounds a year, which is a rate of 0.001%!

With this type of investment return available in the UK it is no surprise to hear that many UK savers may well be looking overseas to deposit their savings and increase their interest rate. However, it is vital that savers take professional advice on this issue because while they could make better interest on their deposit, they could lose substantially from the currency exchange rate. There are more factors to consider than just switching your money overseas when looking for a better rate.

There is no doubt that UK savers are already looking at new ways to increase their income streams and overseas bank accounts and overseas investments, where rates are much higher than the Bank of England, could rightly or wrongly attract a significant number of the UK population.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details